Community Stories

Are members invested in Bitcoin/crypto?

Twocats
Posts
1,053
Likes
5,764
I dont think we have even warmed up yet, even though BTC is close to its ATH. Blackrock has done a lot for crypto and the ETH ETF and potentially XRP ETF will blow the lid of it. Traditionally the bull run comes a few months post halving and we are still a month from the halving. The market has changed again and I see the bull run starting post halving and once interest rates start to drop.

I don't hold BTC/ETH and prefer the alts like XRP,XLM,XDC,DOT,QNT,DAG etc of which none are close to the historical ATH. I am calculating that if they hit ATH and BTC is $100k and I convert I will still be getting in at cheaper than the current BTC price for less outlay from my side.

It's all a risk and nobody knows anything regardless of how convincing the argument is. Either way I am go big or go home. I retire this year or I continue life without the car I really want to own and for me its worth the roll of the dice. You have only lost if you sell right...
 
kippyk
Posts
363
Likes
450
PayPal started to get into crypto a few years ago. You can buy and sell crypto, but I do not think you can receive or send crypto. I bought $50 of Ether just to do it. It is now worth $473 in my PayPal wallet.
 
Subspecies
Posts
48
Likes
66
Advice needed please. Bought some shiba inu a couple of years ago and they did very well and I hung onto them and almost inevitably they sunk. They are currently worth twice what I paid. Thing is I don't seem to be able to sell them (UK) but can still buy more? Doesn't make a lot of sense to me so looking for advice. Disclaimer, I bought them after a couple of glasses of wine and frankly know nothing about crypto. I have tried googling but got nowhere really. Any pointers?
 
Dsloan
Posts
3,168
Likes
20,837
Subspecies Subspecies
Advice needed please. Bought some shiba inu a couple of years ago and they did very well and I hung onto them and almost inevitably they sunk. They are currently worth twice what I paid. Thing is I don't seem to be able to sell them (UK) but can still buy more? Doesn't make a lot of sense to me so looking for advice. Disclaimer, I bought them after a couple of glasses of wine and frankly know nothing about crypto. I have tried googling but got nowhere really. Any pointers?

I'm not sure of all the regulations in the UK, but are they on an exchange or are the in a self-custody wallet? If you can't sell them on the exchange, can you still transfer them to another exchange or wallet? Or, can you swap them to another token that you can cash out?
 
kgb
Posts
210
Likes
1,216
@Subspecies I have a small amount* of SHIB on Coinbase where it is easy to buy and sell. As @Dsloan says, you should be able to move them to another exchange. But I know it's sometimes tricky: when I wanted to get out of Binance, I had to sell my tokens there, then buy ETH and then transfer the ETH to Coinbase where the money was once again liquid and in my control.

*By small amount, I mean 100 million tokens! But that's barely enough to buy one watch.
 
Dsloan
Posts
3,168
Likes
20,837
kgb kgb
@Subspecies I have a small amount* of SHIB on Coinbase where it is easy to buy and sell. As @Dsloan says, you should be able to move them to another exchange. But I know it's sometimes tricky: when I wanted to get out of Binance, I had to sell my tokens there, then buy ETH and then transfer the ETH to Coinbase where the money was once again liquid and in my control.

*By small amount, I mean 100 million tokens! But that's barely enough to buy one watch.

I am also a millionaire in some tokens that have a questionable use case 😁
 
Subspecies
Posts
48
Likes
66
kgb kgb
@Subspecies I have a small amount* of SHIB on Coinbase where it is easy to buy and sell. As @Dsloan says, you should be able to move them to another exchange. But I know it's sometimes tricky: when I wanted to get out of Binance, I had to sell my tokens there, then buy ETH and then transfer the ETH to Coinbase where the money was once again liquid and in my control.

*By small amount, I mean 100 million tokens! But that's barely enough to buy one watch.

Thanks, they are indeed on binance and after reading your reply I went back and found I could transfer to bitcoin for no fees. Hopefully I can then sell them. Not particularly wanting to sell immediately but wanted a way out if needed. Thanks for all the replies.
 
Dsloan
Posts
3,168
Likes
20,837
Subspecies Subspecies
Thanks, they are indeed on binance and after reading your reply I went back and found I could transfer to bitcoin for no fees. Hopefully I can then sell them. Not particularly wanting to sell immediately but wanted a way out if needed. Thanks for all the replies.

I haven't been on binance in awhile, nor do I know UK regulations, but I would suspect you can either cash out, OR, maybe open an account at a different CEX, do a transfer, and then cash out. Good luck! Enjoy your capital gains!
 
gbesq
Posts
9,042
Likes
46,802
“I create nothing. I own.” - Gordon Gekko
 
ibis888
Posts
465
Likes
364
Not investing but perhaps a nice gamble.

"It's human nature to find patterns where there are none and to find skill where luck is a more likely explanation."
-William Bernstein
 
Walrus
Posts
9,838
Likes
46,978
I’m going out on a limb here but I believe soon ETH will bring wife changing gains.
 
gbesq
Posts
9,042
Likes
46,802
Walrus Walrus
I’m going out on a limb here but I believe soon ETH will bring wife changing gains.
Wife changing? So you think the gains will attract Russian brides? Gold Diggers? Las Vegas professionals? 😜
 
Walrus
Posts
9,838
Likes
46,978
gbesq gbesq
Wife changing? So you think the gains will attract Russian brides? Gold Diggers? Las Vegas professionals? 😜
Is it as cool as I think?
 
Trev
Posts
2,130
Likes
2,416
Years ago I bought a spread of crypto that was mostly XRP before it spiked. I'd bought XRP at the bottom and sold when it was boosted and hyped around the end of 2017. It was a gamble that paid off really well. Had to pay capital gains tax on it.

I've been tempted to buy more (XRP/ETH), but I'd hold on to it for a long time if I did.
 
RevZMan123
Posts
2,041
Likes
4,151
Trev Trev
Years ago I bought a spread of crypto that was mostly XRP before it spiked. I'd bought XRP at the bottom and sold when it was boosted and hyped around the end of 2017. It was a gamble that paid off really well. Had to pay capital gains tax on it.

I've been tempted to buy more (XRP/ETH), but I'd hold on to it for a long time if I did.

Now the US has made it worse -- ANY conversion is a taxable event so you pay tax on each coin conversion.
 
15 More Posts...
Sign up or log in to reply...